November 14 (SeeNews) - Bulgarian diversified group Doverie United Holding [BUL:5DOV] said on Thursday that it is seeking the approval of its shareholders to sign a 20 million euro ($22 million) seven-year loan deal with the International Investment Bank (IIB).
Doverie United Holding intends to use the funds to carry out all types of investments and finance the operations of its subsidiaries, the company said in a bourse filing.
The loan will carry an annual interest rate of 3M EURIBOR plus 2.20% with interest payments due each three months.
The loan will be repaid in equal quarterly installments following a two-year grace period.
As at 9:05 CET on Thursday, Doverie United Holding shares traded at 2.90 levs, unchanged from their previous closing price on the Bulgarian Stock Exchange.
Doverie United Holding controls over 20 subsidiaries, active in various sectors of the economy, including healthcare, banking, insurance, retail trade, real estate, and others.
($ = 0.9088 euro)